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"The government and De Beers Group said in a joint statement on Wednesday they are establishing a new 50-50 joint venture holding company for both De B..."
Officials say Namibia's government has increased its stake in a company it owns with diamond company De Beers.
The government and De Beers Group said in a joint statement on Wednesday they are establishing a new 50-50 joint venture holding company for both De Beers Marine
Namibia and the two parties' onshore diamond company, Namdeb.
The arrangement means the government increases its stake in De Beers Marine Namibia from 15 to 50 percent, and maintains its 50-percent share of Namdeb.
Namibia's government recently gave a state company exclusive rights for exploration and mining of key minerals, but says the decision is not retroactive
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